Ukraine ‘Regaining Tactical Initiative’ in War Against Russia, ISW Analysis Finds

The analysis states Ukraine’s ongoing strikes are also constraining Russia’s oil refining and energy revenues, a key source of income for Moscow’s military.

Ukrainian President Volodymyr Zelenskyy in Ayia Napa, Cyprus, on April 23, 2026. Petros Karadjias/AP Photo

Ukraine is “regaining tactical initiative” in its war against Russia, building on gains made in April and achieving its first net territorial gain in two years, according to analysis from the Institute for the Study of War (ISW) published on May 20.

“Ukrainian forces have conducted a series of counterattacks in different areas across the theater in recent months, having made their most significant gains on the battlefield since Ukraine’s incursion into Kursk Oblast in August 2024,” the ISW report showed.